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Option 4 : LIC
- LIC operates and manages Pradhan Mantri Vaya Vandana Yojana (PMVVY).
- It is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from 4th May, 2017 to 31st March, 2020.
- The scheme provides for an assured return of 8% percent per annum payable monthly (equivalent to 8.3% per annum) for 10 years.
- However, the subscriber can opt for monthly/quarterly/ half-yearly or yearly payment of the pension.
- Minimum Age: 60 years Maximum Age: No limit Policy
- Term: 10 years
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